Dish Network Corp. shares DISH were down nearly 2% in Monday’s premarket action as the telecommunications company posted a larger revenue decline for the first quarter than analysts were anticipating. The company recorded net income of $223 million, or 35 cents a share, down from $433 million, or 68 cents a share, in the year-earlier quarter. Analysts tracked by FactSet expected 35 cents in earnings per share. Dish’s revenue fell to $3.96 billion from $4.33 billion, while analysts were modeling $4.06 billion. The company saw a net decrease of 552,000 pay-TV subscribers in the first quarter. It finished the period with 9.2 million pay-TV subscribers, including 7.1 million for Dish TV and 2.1 million for Sling TV. Dish’s retail net wireless subscribers fell by about 81,000 in the period, and Dish closed the quarter with 7.91 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.